Vancouver, BC – July 18, 2013: Altair Gold Inc. (TSX-V: AVX; “Altair” or “the Company”) is pleased to report that it has appointed Feisal Somji as a Director to its Board.
Mr. Somji has over 20 years of experience in the mining industry ranging from grassroots exploration to mine development. He has acted as an officer and director of several public companies involved in diamond, gold, silver, copper, base metal and platinum assets in Canada, Mexico, Brazil, Philippines, Peru, Columbia and Africa.
Most recently, Mr. Somji was the founder, President and CEO of Rio Alto Mining Ltd., which achieved commercial production in 2011 at the La Arena gold-copper mine in Peru, at an annualised rate of approximately 150,000 ounces of gold. Mr. Somji provides expertise in areas of corporate finance and governance. He has raised over $ 125 million and helped several companies list on the TSX Venture Exchange.
Mr. Somji has a B.Sc. from the University of British Columbia and an MBA from Queens University.
“Feisal brings experience, relationships and knowledge to Altair’s Board and we look forward to his contribution to the development of Altair’s Kena Gold project,” said Altair Gold President and CEO, Fayyaz Alimohamed.
The Kena Property, located seven kilometers south of Nelson, British Columbia, is readily accessible by Highway 6 and several major logging roads. It comprises 152 claim units totaling an area of 7,609 hectares (76.1 km²). The property covers approximately 10 kilometers of strike length on a district-scale gold-copper system.
The mineral resource statement for the Kena Gold Property, as extracted from the 2013 Kena Technical Report, is summarized in the table below. The effective date of this resource estimate is February 7, 2013. The mineral resource statement is reported at a cut-off grade of 0.3 gpt gold.
Mineral Resource Statement, Kena Gold Property, British Columbia, Giroux and Park, May 15, 2013.
COMBINED KENA AND GOLD MT. (KGM) ZONE
At a 0.3 g/t cut-off
|Category||Tonnes||Grade Au (g/t)||Au Ounces|
|Measured and Indicated||25,280,000||0.60||490,000|
The Qualified Person for the Kena Gold Property is Mr. Warner Gruenwald, P.Geo. and VP Exploration for Altair.
For further information, please contact Fayyaz Alimohamed at (604) 641-1305, or e-mail [email protected]
ON BEHALF OF THE BOARD
Fayyaz Alimohamed, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Caution:
This news release contains forward-looking statements within the meaning of Canadian provincial securities laws applicable to the Company, regarding the ongoing exploration and development activities at the Company’s Kena gold property. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company’s inability to obtain any necessary permits, consents or authorizations required for its activities, the Company’s inability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. The reader is referred to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
All of the Company’s public disclosure filings may be accessed via www.sedar.com, and readers are urged to review these materials, including any technical reports filed with respect to the Company’s mineral properties.